M/S. Veer-Chemic And Aromatics [P] Ltd., A v. Prasad (Sr. Sc For Income Tax

IN THE HIGH COURT FOR THE STATE OF TELANGANAAT HYDERABAD WEDNESDAY, THE SIXTEENTH DAY OF NOVEMBERTWO THOUSAND AND TWENTYTWO PRESENT THE HON'BLE THE CHIEF JUSTICE UJJAL BHUYANANDTHE HON'BLE SRI JUSTICE C.V. BHASKAR REDDY INCOME TAX TRIBUNAL APPEAL NO: ['173 ]OF 2006 Appeal Under Section 260 (A) of the lncome Tax Act , 1961 aggrievedby the order dated 30-08-2008 in ITA No.227 I Hydl 2003 (Assessment Year1993 -94) on the file of the lncome Tax Appellate Tribunal, Hyderabad Bench-"A" Hyderabad [preferred ]against the order of the Commissioner of lncomeTax (Appeals ) lV , Hyderabad dated 12-11-2002 in Appeal No. 030 / DC.3 (4) /CIT (A) -lV I 01-02 [preferred ]against the order of the Assistant Commissioner-of lncome Tax Circle -3 (4), Hyderabad dated 07-03-2002 in PAN / GIR No. V 77. Betwee n: The Commissioner of lncome Tax-lll, HyderabadAND ...APPELLANT M/s. Veer-Chemic and Aromatics [P] Ltd., A-4, Cooperative industrial Estate,Balanagar, Hyderabad ...RESPONDENT Counsel for the Appellant: SRl. J. V. PRASAD (Sr. SC FOR INCOME TAX) Counsel forthe Respondent: SRt S. RAVI The Court delivered the following: Judgment THE HON'BLE THE CHItrF JUSTICE UJJAL BHIIYANAND THE HON'RLE SRI JUSTICE C.V.BHASKAR REDDY I.T.T.A.N<r. 1 73 of 2006 JUDGMENT: (Per the Hon'bLe the ChieJ'Justi@ Ujjol BhuVaft) Heard Mr. J.V.Prasad, learned Standing Counsel forIncome Tax Department appearing for the appellant. 2. This appeal under f]ection 260A of the Income Ta-xAct, 1961 (briefly, 'the Act'l.rereinafter), has been preferredby the revenue as the appellant against the order dated30.08.2005 passed by the Income Tax Appeliate Tribunal,Hyderabad Bench 'A', Hyderabad (Tribunal),1t-]l.T.A.No.227 /Hydl2OO3 for the assessment yea:. 1993-94. 3. Mr. J.V.Prasad, learned Standing counsel fairlysubmits that tax effect in this appeal is below the monetarylimit for filing appeal. 4. Central Board of Direct Taxes (CBDT) has issuedCircular No.17 of 2019, dated 08.08.2019, amending theprevious Circular No.3 of 2018, dated 11.07.2018, by I further enhancing the monetary limits for filing appeals bythe Income Tax Department before the Income TaxAppellate Tribunals, High Courts and Supreme Court as ameasure for reducing litigation. In paragraph 2 of the saidcircular we find that the monetary limit fixed for filing anappeal before the High Court is Rs.1.00 crore. 5. Therefore, the appea-l filed by the revenue is dismissed in terms of the aforesaid Circuiar No.17 of 2019,dated 08.08.2019. However, if the appeal comes within theexception under paragraph 10 of Circular No.3 of 20 18, itwould be open to the Income Tax Department to seekrevival of the appeal. Miscellaneous applications pending, if any, shall stand closed. However, there shall be no order as to costs. Sd/.B.S.CHIRANJEEVIJOINT REGISTRARISECffi**=* //TRUE COPY// To, l. The lncomeTaxAppellate [Tribunal, ][Hyderabad ][Bench-"A" ][Hyderabad] 2. The Commissioner [of lncome ][Tax ][(Appeals ][) ][lV ][, ][Hyderabad] 3. The Assistant [commissioner ][of ][Income ][Tax ][Circle ][-3 ][(4), ][Hyderabad] 4. One CC to Sri [Prasad ][Sr' ][SC FOR INCOME TAX, Advocate IOPUC]] 5. One CC [to Sri ] [Ravi, Advocate ] 6. Two CD CoPies HIGH COURT DATED: 1611112022 JUDGMENT ITTA.No.173 of 2006 DISMISSING THE ITTA lilE [sTA]a.)oo3 1 JAll ?[23